China Construction Bank Corporation (CCB) released its financial results for the first quarter of 2020, reporting steady growth in key performance indicators. The bank's total assets reached RMB 27,110.17 billion, marking a 6.58% increase from the end of 2019. Liabilities grew by 6.78%, totaling RMB 24,775.11 billion.
In terms of profitability, CCB recorded a net profit of RMB 80.98 billion, with the net profit attributable to shareholders rising by 5.12% year-on-year to RMB 80.86 billion. The annualized return on average assets was reported at 1.23%, while the annualized return on average equity stood at 15.09%.
The bank's loans and advances increased by RMB 960.49 billion or 6.39% from the end of last year, reaching a total of RMB 15,983.31 billion. Deposits saw a rise of RMB 1,340.50 billion or 7.30%, amounting to RMB 19,706.79 billion.
Net fee and commission income also saw an upward trend with an increase of 5.45% year-on-year, reaching RMB 45.38 billion.
Despite global economic challenges posed by COVID-19, CCB maintained its non-performing loan ratio at approximately the same level as at the end of the previous year—1.42%. The provision coverage improved slightly to reach 230.27%.
The capital adequacy ratio as per March-end was recorded at 17.22%, meeting regulatory requirements with Tier I and Core Tier I ratios at respective levels of 14.50% and 13.75%.
CCB has been proactive in addressing pandemic-related challenges both domestically and internationally by expanding credit supply and supporting pandemic prevention efforts through specific measures like issuing loans worth RMB 96.9 billion for enterprises involved in these efforts.
Additionally, CCB contributed significantly to international aid during the pandemic by donating over RMB35 million worth of medical supplies across various countries and regions.